United States Lime & Minerals, Inc. (NASDAQ:USLM – Get Free Report) crossed above its two hundred day moving average during trading on Monday after the company announced better than expected quarterly earnings. The stock has a two hundred day moving average of $115.20 and traded as high as $124.79. United States Lime & Minerals shares last traded at $118.99, with a volume of 324,351 shares.
The construction company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.16). The business had revenue of $106.19 million for the quarter, compared to the consensus estimate of $122.00 million. United States Lime & Minerals had a return on equity of 20.76% and a net margin of 35.66%.
United States Lime & Minerals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. United States Lime & Minerals’s dividend payout ratio is presently 5.17%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on USLM. Freedom Broker decreased their price objective on shares of United States Lime & Minerals from $132.00 to $131.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings raised shares of United States Lime & Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $131.00.
Read Our Latest Report on USLM
Insider Transactions at United States Lime & Minerals
In other news, Director Antoine M. Doumet sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the director owned 90,000 shares in the company, valued at approximately $9,900,000. The trade was a 18.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Ltd. Candou acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $110.00 per share, with a total value of $2,200,000.00. Following the completion of the purchase, the insider directly owned 17,673,780 shares in the company, valued at $1,944,115,800. The trade was a 0.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On United States Lime & Minerals
Institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in United States Lime & Minerals by 116.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,608 shares of the construction company’s stock valued at $2,680,000 after acquiring an additional 13,757 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of United States Lime & Minerals in the 2nd quarter valued at about $4,449,000. Corient Private Wealth LP acquired a new stake in United States Lime & Minerals during the second quarter worth approximately $2,050,000. Bank of New York Mellon Corp acquired a new stake in United States Lime & Minerals during the 2nd quarter worth $9,593,000. Finally, Man Group plc purchased a new stake in United States Lime & Minerals in the second quarter valued at $467,000. 27.12% of the stock is owned by hedge funds and other institutional investors.
United States Lime & Minerals Price Performance
The company has a market cap of $3.41 billion, a price-to-earnings ratio of 25.64 and a beta of 0.66. The firm’s 50 day simple moving average is $112.73 and its 200-day simple moving average is $115.20.
About United States Lime & Minerals
United States Lime & Minerals, Inc is a producer of lime and limestone products used in construction, industrial processing, environmental applications and other commercial activities. The company operates through its Lime and Limestone Operations segments.
Its product portfolio includes quicklime, hydrated lime and various crushed limestone and aggregate products. These materials are used in applications such as road construction, concrete and asphalt production, water and wastewater treatment, flue-gas treatment, steel manufacturing and other industrial processes.
Founded in 1948, United States Lime & Minerals serves customers primarily in Texas and surrounding regions, with production and distribution activities focused on the south-central United States.
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